Terreno Realty Corporation Acquires Building in Seattle, WA for $42.0
Million

March 08, 2018 09:15 AM Eastern Standard Time

SAN FRANCISCO--(BUSINESS WIRE)--Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and
operator of industrial real estate in six major coastal U.S. markets,
acquired an industrial property located in Seattle, Washington on March
6, 2018 for a purchase price of approximately $42.0 million.

The property consists of one industrial distribution building that upon
renovation, expected to be substantially complete by the end of 2019,
will contain approximately 235,000 square feet on approximately 8.7
acres adjacent to Seattle’s Port and SoDo district. The property is at
4786 1st Avenue South, provides 29 dock-high and two grade-level loading
positions, parking for 71 cars and is 65% leased to three tenants. The
estimated stabilized cap rate of the property is 5.1%.

Additional information about Terreno Realty Corporation is available on
the company’s web site at www.terreno.com.

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the federal securities laws. We caution investors that
forward-looking statements are based on management’s beliefs and on
assumptions made by, and information currently available to, management.
When used, the words “anticipate”, “believe”, “estimate”, “expect”,
“intend”, “may”, “might”, “plan”, “project”, “result”, “should”, “will”,
and similar expressions which do not relate solely to historical matters
are intended to identify forward-looking statements. These statements
are subject to risks, uncertainties, and assumptions and are not
guarantees of future performance, which may be affected by known and
unknown risks, trends, uncertainties, and factors that are beyond our
control, including risks related to our ability to meet our estimated
forecasts related to stabilized cap rates and those risk factors
contained in our Annual Report on Form 10-K for the year ended December
31, 2017 and our other public filings. Should one or more of these risks
or uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those anticipated,
estimated, or projected. We expressly disclaim any responsibility to
update our forward-looking statements, whether as a result of new
information, future events, or otherwise.